Arvind Fashions to acquire Flipkart's stake in Arvind Youth Brands for Rs 135 crore

Arvind Fashions said that it would acquire Flipkart Group's stake in Arvind Youth Brands (AYBPL) for Rs 135 crore, thereby making AYBPL a wholly owned subsidiary.

Over the last five years Flying machine has re-established as a well-accepted brand on the digital channels.

The partnership with the Flipkart group helped Flying Machine become one of the top casual wear brand on digital platforms, catering to the fashion-conscious youth of India.

Amisha Jain, managing director & chief executive officer of Arvind Fashions, said, We are thankful to the Flipkart Group for their support in building Flying Machine into a brand of choice on digital channels.

Our relationship with the Flipkart group will continue ensuring consumers can still shop Flying Machine on its platforms. The brand will also be available to consumers on other digital channels and portals.

Arvind Fashions is engaged in the wholesale and retailing of owned and licensed branded apparels in India. With a host of renowned brands, both international and indigenous, like U.S. Polo Assn., Arrow, Tommy Hilfiger, Calvin Klein, and Flying Machine, it has presence across lifestyle brands.

The scrip fell 1.47% to currently trade at Rs 508.55 on the BSE.

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